1. Most Discussed
  2. Gainers & Losers

News re Aussie Wealth

  1. GypsyKing

    328 Posts.

    Hi all,

    Below is a news bulletin from www.tradingroom.com.au regarding the latest statistics on wealth in Australia.

    Aust wealth up almost 50 pct from middle 1990's, says ABS data
    Source: CANBERRA, Sept 30 AAP
    Published: Monday September 30 2002, 2:45 PM

    Australians were now almost 50 per cent richer than they were in the middle of the 1990s, official data showed today.

    The Australian Bureau of Statistics (ABS) study estimated households increased their wealth by 45 per cent between 1994 and 2000.

    A household's wealth was strongly determined by their income levels and major assets such as the family home and superannuation, the ABS said.

    "Growth in the value of these assets between 1994-2000 led to strong increases in the average wealth of households in middle and older age groups," the ABS said in a statement. advertisement


    The wealthiest 10 per cent of households held around 44 per cent of all wealth, a share roughly stable over the period surveyed, it said.

    Average and median household wealth increased each year as householders aged, peaking in the 55-64 age group, before declining as people retired.

    New South Wales had the highest average wealth in 2000 ($345,400), with average home values considerably higher than in other states.



Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.